Prime Minister Narendra Modi has called on French businesses to take advantage of India’s vast investment opportunities and collaborate in key areas such as technology, innovation, and sustainable development.
Addressing the 14th India-France CEOs Forum in Paris, PM Modi emphasized India’s commitment to economic reforms and ease of doing business, inviting French enterprises to strengthen their partnership with India. He highlighted several measures introduced in the recent budget to boost investment, including 100 per cent Foreign Direct Investment (FDI) in the insurance sector and private participation in civil nuclear energy with a focus on SMR (Small Modular Reactors) and AMR (Advanced Modular Reactors) technologies.
Economic Reforms to Enhance Business Environment
PM Modi underscored the government’s efforts to streamline economic policies, noting that the customs rate structure had been rationalized and a simplified income tax code was being introduced to improve ease of living for citizens. He reaffirmed India’s pro-business stance, highlighting the rationalization of over 40,000 compliances to create a more investor-friendly environment.
“To facilitate international trade, ‘India Trade Net’ is being launched through digital public infrastructure. We are also bringing in a new, simplified income tax code to enhance ease of living,” he said.
He urged French enterprises to explore India’s business-friendly reforms, including the National Manufacturing Mission, which aims to boost industrial growth.
India’s Growth and Investment Potential
PM Modi emphasized that India’s economic progress presents opportunities for global businesses, citing the country’s expanding aviation sector.
“This is the right time to come to India. Everyone’s progress is linked to India’s progress. For example, when Indian companies placed large orders for airplanes, it opened up new possibilities for global aviation. Now, as we plan to open 120 new airports, imagine the future opportunities in this sector,” he said.
Encouraging global investors, he added, “I welcome you all to join India’s development journey.”
Strengthening India-France Ties
Prime Minister Modi was joined at the CEO Forum by French President Emmanuel Macron. Highlighting the strong diplomatic ties between the two nations, he said, “This is our sixth meeting in the last two years. Last year, President Macron was the Chief Guest at our Republic Day celebrations.”
PM Modi is on a visit to France from February 10-12, where he co-chaired the AI Action Summit with President Macron in Paris. Following this, he will travel to the United States on February 12-13 to meet with U.S. President Donald Trump and other senior leaders of the U.S. administration.
